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PSM: Record Net Exports, Demand Over 2019 Levels

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  • Net exports of US crude oil and oil products posted a new record in September.

  • Monthly demand in the US exceeds preliminary weekly readings.

  • Crude shipments from US to Europe have decelerated despite the looming EU ban on Russian crude.

US net exports of crude oil and petroleum products touched yet another record in September, according to the Energy Information Administration (EIA)’s Petroleum Supply Monthly. The world’s largest economy shipped 1.6 million barrels per day more fuels abroad than it imported. In comparison, the US was a net importer of 1.2 b/d last September and 40,000 b/d during the same month in 2019, the last year before the Covid-19 pandemic.

Topics:
Oil Trade, Oil Products, Oil Demand, Crude Oil
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